‘Cy­ber At­tacks Caused Over 20% Rev­enue Loss in 2016’

Breached firms also lost cus­tomers and busi­ness op­por­tu­ni­ties, says Cisco re­port

The Economic Times - - Disruption: Startups & Tech - Neha.Alawadhi @times­group.com

New Delhi: Over one-third or­gan­i­sa­tions that ex­pe­ri­enced a cy­ber breach in 2016 re­ported loss of cus­tomer, op­por­tu­nity and a rev­enue loss of more than 20%, ac­cord­ing to Cisco 2017 An­nual Cy­ber­se­cu­rity Re­port.

The re­port sur­veyed nearly 3,000 chief se­cu­rity of­fi­cers (CSOs) and se­cu­rity op­er­a­tions lead­ers from 13 coun­tries. “Two big changes have hap­pened in the cy­ber­se­cu­rity prac­tice in In­dia over the last cou­ple of years. First, the net­work has now be­come the first line of de­fence for your en­tire in­fra­struc­ture, no mat­ter if the in­fra­struc­ture is on-premise, on the cloud on are lap­tops, desk­tops or mo­bile de­vices. Se­condly, there is a grow­ing re­al­i­sa­tion that breaches will def­i­nitely hap­pen, so there is a cry­ing need to come up with solu- tions to mit­i­gate those breaches once they hap­pen,” Pravin Srini­vasan, head, Net­work­ing Trans­for­ma­tion, Cisco In­dia & SAARC told ET.

In­dia saw an 85% in­crease in IP blocks, which rep­re­sent the se­cu­rity sys­tem block­ing an email sender be­cause of their be­hav­iour.

“The sig­nif­i­cant in­crease in IP blocks could be at­trib­uted not just to the rise in spam vol­ume but also to se­cu­rity repu- tation sys­tems adapt­ing to the new in­for­ma­tion au­to­mat­i­cally gath­ered about spam senders. Emerg­ing economies like Brazil, Mex­ico, Viet­nam and China have also seen sig­nif­i­cant in­crease in IP blocks,” said Srini­vasan. The re­port found that spam ac­counts for 65% of the to­tal email vol­ume, thriv­ing through spam-send­ing bot­nets like Ne­curs, and 8% of this spam is ma­li­cious.

Cy­ber­at­tack­ers also found new ways to at­tack en­ter­prise sys­tems, with some advertising cam­paigns em­ploy­ing bro­kers that act as mid­dle man­agers, mask­ing ma­li­cious ac­tiv­ity. This gives at­tack­ers a vir­tual “cover”, al­low­ing them to move with greater speed, main­tain their op­er­a­tional space, and evade de­tec­tion.

The Cisco study also found that 20% of breached or­gan­i­sa­tions lost cus­tomers, with 40% of them los­ing more than 20% of their cus­tomer base. As many as 29% lost rev­enue and 23% breached or­gan­i­sa­tions lost busi­ness op­por­tu­ni­ties.

Old-fash­ioned ad­ware soft­ware that down­loads advertising with­out user per­mis­sion, con­tin­ued to be the lead­ing cause of in­fect­ing 75% or­gan­i­sa­tions in­ves­ti­gated.

Cloud also proved to be an en­try point for at­tacks, with 27% em­ployee-in­tro­duced, third­party cloud ap­pli­ca­tions be­ing cat­e­gorised as high risk.

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